Office of the City Clerk - Record #: O2016-5592

• Record #: O2016-5592
• Type: Ordinance
• Status: Passed
• Intro date: 7/20/2016
• Current Controlling Legislative Body: Committee on Finance
• Final action: 9/14/2016
• Title: Ninth supplemental indenture securing Chicago O'Hare International Airport Passenger Facility Charge Revenue Bonds, Series 2016A and Passenger Facility Charge Revenue Refunding Bonds, Series 2016B
• Sponsors: Emanuel, Rahm

Date	Journal Page Number	Action By	Action	Result
9/14/2016	29772	City Council	Passed	Pass
9/9/2016		Committee on Finance	Recommended to Pass	Pass
7/20/2016	28029	City Council	Referred

OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
July 20, 2016










TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO


Ladies and Gentlemen:

At the request of the Chief Financial Officer and the Commissioner of Aviation, I transmit herewith an ordinance authorizing an issuance of Passenger Facility Charge Revenue and Refunding Bonds.

Your favorable consideration of this ordinance will be appreciated.

Very truly yours,


Mayor
ORDINANCE

Whereas, the City of Chicago (the "City") is a duly constituted and existing municipality within the meaning of Section 1 of Article VII of the 1970 Constitution of the State of Illinois (the "Constitution") having a population in excess of 25,000 and is a home rule unit of local government under Section 6(a) of Article VII of the Constitution; and

Whereas, the City owns and operates an airport known as Chicago O'Hare International Airport (the "Airport"); and

Whereas, the City has heretofore issued various series of its Chicago O'Hare International Airport Passenger Facility Charge Revenue Bonds that are currently outstanding (the "Outstanding PFC Bonds") that are secured under the Master Trust Indenture Securing Chicago O'Hare International Airport Passenger Facility Charge Obligations, dated as of January 1, 2008, as heretofore and as may hereafter be supplemented and amended (the "PFC Master Indenture"), from the City to The Bank of New York Mellon Trust Company, NA. (successor to BNY Midwest Trust Company.) as trustee (the "PFC Trustee"); and

Whereas, the City has determined to authorize the issuance of its Chicago O'Hare International Airport Passenger Facility Charge Revenue Bonds (the "2016 PFC Bonds") pursuant to the PFC Master Indenture in one or more series for the purposes of (i) paying the cost of certain Projects (as defined in the PFC Master Indenture) and (ii) refunding at or prior to maturity all or a portion of the Outstanding PFC Bonds; and

Whereas, the City proposes to issue and sell 20...